Force Motors to allocate approximately Rs 2,000 crore over the next three to four years for diverse initiatives, including a focus on sustainability and the development of electric vehicles, as stated by the Managing Director, Prasan Firodia. The company aims to gradually introduce electric variants across its van lineup in the upcoming phases.
Force Motors, one of the leading automotive manufacturers based in India, boasts a rich legacy of over six decades. The company specializes in the production of robust utility vehicles, tractors, and commercial vehicles. With a commitment to innovation, quality, and customer satisfaction, the company has expanded its footprint globally.
Prasan Firodia, the Managing Director of Force Motors, disclosed their extensive investment plans, outlining a commitment of around Rs 2,000 crore over the next three to four years at a company-wide level. The allocation of these funds is anticipated to span various aspects, encompassing conventional engines, electric vehicles (EVs), enhancements to engineering facilities, and the establishment of a more sustainable operational environment.
Firodia emphasized that this investment strategy will traverse the entire spectrum of the company’s operations and value chain. While the company showcased its latest offerings, including the Traveller Electric, Urbania Diesel, and Traveller CNG, at the Bharat Mobility Global Expo, it has embarked on an electrification initiative. Despite maintaining a presence in conventional engine vehicles, the company is allocating an investment range of Rs 200 to Rs 300 crore towards the electrification drive.
Firodia indicated that the inaugural electric offering will be the Traveller Electric, with subsequent electrification phases planned for various variants of the Traveller every six months. Additionally, by the end of the upcoming year, an electric version of the Urbania is expected to be introduced. Firodia revealed ongoing efforts to electrify non-passenger transport options, citing the Gurkha as an example, with a rollout of electric versions for these products.
Highlighting the company’s sustainability endeavors, Firodia asserted that, by the middle of the current calendar year, nearly 50 percent of the company’s energy consumption will be sourced from ‘green energy.’ While expressing that additional production capacity is not immediately required, Firodia mentioned plans to install a second large paint shop to augment capacity from a painting perspective.
In terms of future outlook, Firodia pointed out the company’s growth over the past two years, boasting a close-to-40-percent year-on-year increase. Buoyed by strong market sentiment and the government’s emphasis on infrastructure development, he predicted a positive momentum, anticipating growth rates of 25-35 percent or even higher over the next few years.
